Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
Broome County hotel occupancy rate jumps more than 9 percent in July
BINGHAMTON — Hotels in Broome County were substantially fuller in July than in the year-ago month, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 9.4 percent to 74.9 percent in July from 68.5 percent a year prior, according to STR, a Tennessee–based […]
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
BINGHAMTON — Hotels in Broome County were substantially fuller in July than in the year-ago month, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 9.4 percent to 74.9 percent in July from 68.5 percent a year prior, according to STR, a Tennessee–based hotel market data and analytics company. That snapped a string of three small monthly declines. Year to date, through July, the county’s occupancy rate was up 3 percent to 58.5 percent.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 11.3 percent to $72.30 in July from $64.98 in July 2018. Through the first seven months of 2019, the county’s RevPar was up 4.5 percent to $53.76.
Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 1.7 percent to $96.48 in July from $94.90 a year earlier. Year to date, Broome County’s ADR was up 1.4 percent to $91.96.
Onondaga County hotel occupancy rate edges up in July
SYRACUSE — Hotels in Onondaga County welcomed slightly more guests in July than in the year-prior month, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county inched up 0.7 percent to 65 percent in July from 64.6 percent a year ago, according to STR,
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — Hotels in Onondaga County welcomed slightly more guests in July than in the year-prior month, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county inched up 0.7 percent to 65 percent in July from 64.6 percent a year ago, according to STR, a Tennessee–based hotel market data and analytics company. That broke a string of nine consecutive months in which Onondaga County’s occupancy rate fell compared to the year-earlier period. Year to date, through July, hotel occupancy in the county was down 7.5 percent to 54.9 percent.
The year-to-date numbers have been hurt by difficult year-over-year comparisons. Onondaga County last year hosted the U.S. Bowling Congress — at the Oncenter in Syracuse — from late March through early July. That pumped an estimated more than 40,000 hotel room night stays into the market. No similar event is taking place this year, making it hard to match last year’s hotel occupancy numbers. Part of July’s slight rebound in occupancy may be attributable to the fact the bowling event didn’t affect as much of July 2018 as it did the preceding months.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 0.5 percent to $66.78 in July from $66.47 in July 2018. Through the first seven months of 2019, the county’s RevPar fell 6.9 percent to $55.77.
Average daily rate (or ADR), which represents the average rental rate for a sold room, edged down 0.2 percent to $102.70 in July from $102.94 a year before. Year to date, Onondaga County’s ADR was up 0.6 percent to $101.56.

Bryant & Stratton to move Clay campus to Route 57 after crews renovate the building
CLAY — Once a $2 million renovation project is complete at the new location, Bryant & Stratton College plans to relocate its Clay campus from 8687 Carling Road, just off Route 31, to 7805 Oswego Road (Route 57). The school’s lease is set to expire at the end of the year, says Sue Cumoletti, market
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
CLAY — Once a $2 million renovation project is complete at the new location, Bryant & Stratton College plans to relocate its Clay campus from 8687 Carling Road, just off Route 31, to 7805 Oswego Road (Route 57).
The school’s lease is set to expire at the end of the year, says Sue Cumoletti, market director of Syracuse colleges. She spoke with CNYBJ on Aug. 29.
Bryant & Stratton will renovate a 12,600-square-foot space on Oswego Road, the school said. Crews will also build a 3,000-square-foot addition at that location.
CBD Construction of Syracuse will handle the construction work, and Silvestri Architects, PC of Buffalo is the architect on the project.
Bryant & Stratton has provided instruction at its current Clay campus — located behind Wegmans and retailer Runnings — for more than 23 years.
It signed a second lease for that space 12 years ago. “We’ve been very happy here,” Cumoletti notes.
The college’s new campus is set to begin operations in January 2020. During construction, classes will continue at the Carling Road location.
New Clay campus
The Clay campus of Bryant & Stratton serves students in both northern Onondaga and Oswego counties, so Cumoletti wanted a new location that was nearby.
And that’s not all. “What I really liked about the location at 7805 [Oswego Road] is that we have visibility,” she adds.
The location also has “convenient” access to the location through public transportation. We will actually have the bus stop right directly in front of our campus in the future,” says Cumoletti.
The site was most recently occupied by Liverpool Pool & Spa, according to Cumoletti. A CVS store also previously operated in the space, she adds.
Bryant & Stratton currently operates in a more than 37,000-square-foot space at 8687 Carling Road. It will move to a building with about 15,500 square feet following the renovation project at the Route 57 location.
The new Clay space is smaller, and Cumoletti says a reduced footprint was one of her objectives in finding a new space.
Many of the students at the Carling Road campus take courses online and only have classroom instruction for certain courses.
“In other words, based on the delivery and the choices of our students, we’re right sizing our footprint,” she says.
Nearly 300 students attended the Bryant & Stratton campus in Clay last fall, says Cumoletti.
In addition to physical-structure improvements, Bryant & Stratton’s new location will begin offering a “blended learning model.” That will allow students to attend full time with only a few days a week on campus. Research “supports that blended learning results in stronger student learning and institutional outcomes,” Bryant & Stratton contends.
The renovation project will include adding a 3,000-square-foot second level to the building. The addition won’t completely cover the structure’s first level, but it will provide additional space for classrooms, a faculty room, and a program-director room, Cumoletti notes.
The new location will include classroom technology like desktop labs, nesting tables, flip top chairs, and a student lounge with an information-technology help desk, the school said. Additional amenities will include classroom labs for medical assisting, graphic design, and networking-technology students, as well as an anticipated bachelor of science in nursing program, pending approval by the New York State Office of Professions, it added.

Oneida County FreshStart program finishes first year with 12 graduates
UTICA — Oneida County says 12 unemployed young adults have graduated from its FreshStart work-training program after its first year. The FreshStart program is a partnership between the Oneida County Office of Workforce Development and the Utica Municipal Housing Authority (MHA) that targets young adults who are jobless and not currently enrolled in high school
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
UTICA — Oneida County says 12 unemployed young adults have graduated from its FreshStart work-training program after its first year.
The FreshStart program is a partnership between the Oneida County Office of Workforce Development and the Utica Municipal Housing Authority (MHA) that targets young adults who are jobless and not currently enrolled in high school or college.
The inaugural class consisted of a dozen 18-to-24 year-olds from Utica. They worked at MHA sites performing maintenance, painting and other labor, “as they developed work-readiness and teamwork skills,” Oneida County said. The group worked 400 hours each over a span of about three months, each making $11.10 per hour.
“The young adults in this program gained skills they can use for future employment, as well as a new-found confidence in their abilities, a stronger foundation to tackle their futures and work experience that will show employers they can be an integral part of a successful work team,” Oneida County Executive Anthony J. Picente, Jr. said in a news release. “This program is a clear example of how an effective collaborative partnership can have a positive impact on people’s lives.”
Oneida County Workforce Development is currently assisting the graduates in finding full-time employment and/or in receiving their test assessing secondary completion (TASC), a high-school equivalency exam.

Eternal Peace: Celebrating Oakwood Cemetery’s 160th Birthday
In August 1859, a group of Syracuse’s “movers and shakers” decided that the city should invest in a new cemetery. The Rose Hill Cemetery (now a small city park) no longer was able to serve the needs of the growing municipality and many felt that it was poorly located and lacked natural beauty. After much
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
In August 1859, a group of Syracuse’s “movers and shakers” decided that the city should invest in a new cemetery. The Rose Hill Cemetery (now a small city park) no longer was able to serve the needs of the growing municipality and many felt that it was poorly located and lacked natural beauty.
After much research and discussion, a group of interested citizens, led by Elias W. Leavenworth and John Wilkinson, determined that two tracts of land located on the southern fringes of the city would be amply suitable for purchase and use. The price was set at $24,500. Pledges amounting to $20,700 were raised and the remainder was secured through the pre-sale of cemetery lots. The Oakwood Cemetery Association was formed with Leavenworth named as its first president. What was to become one of America’s premier “rural cemeteries” had become a reality.
A noted landscape architect from New York City, Howard Daniels, was engaged to design the acreage. He immediately set to work. With the assistance of 50 workers, Daniels made sufficient progress to allow the official opening of the cemetery in November 1859. His design included varied terrain and vegetation, dotted with ponds and natural rock formations. It included the implementation of picturesque drives, benches, street signs, hitching posts, and stone steps that allowed one to alight easily from horse drawn carriages.

The first grave was dug to hold the remains of Benjamin Nukerck, the first white child to be born in the Walton Tract (the area now known as Armory Square). Mr. Nukerck had originally been buried on the bank of Onondaga Creek on Dec. 7, 1797. His new grave was subsequently marked by a small flat white stone and is located near the Amos P. Granger monument. Ephraim Webster, the first white settler in Onondaga County, was also removed to Oakwood from his original resting place in Seneca County. There are many other noted “firsts.” The first grave dug for a woman was initially dug facing the wrong direction. The inebriated gravedigger had become disoriented when he began digging at midnight and another worker had to quickly correct his mistake before the graveside services the following morning. The first child born in the cemetery was Lillian Oakwood Gardner, the daughter of the first cemetery superintendent, George Gardner.
Unfortunately, she lived for only 10 months and was put to rest in the cemetery for which she was named. The first ‘brick grave’ held the remains of Horace White, father of a future New York governor. It should also be noted that the first monument erected in the cemetery was that of James S. Crouse in early 1860.
Oakwood Cemetery is also well known for the variety of trees (more than 300) and flowers that flourish there. Foremost, of course, are the oak trees that gave the cemetery its name. Other varieties include maple, tulip, magnolia, hickory tree, as well as numerous varieties of evergreen trees and bushes. At one time, elm trees also dotted the landscape before the onset of Dutch Elm disease. Unfortunately, the Labor Day storm in 1998 also destroyed many of the original trees on the property.
The oldest part of the cemetery is Dedication Valley. A Victorian chapel — designed by noted, locally based architect, J.L. Silsbee — was constructed in 1879. This chapel served as a mausoleum, crematorium, and as a location to hold funeral services. Originally, visitors to the cemetery entered off Oakwood Avenue but the construction of Interstate 81 in 1964 forced the closing of that entrance and the destruction of the original nearby caretaker’s cottage. This entrance had been enhanced by a granite arch and iron gate in 1902, constructed at the cost of $45,000. It was located adjacent to the railway allowing visitors to take the train to the cemetery, a popular spot. A greenhouse and office building also was constructed at that time. The greenhouse, where flowers and plants were grown for the landscape and to be placed in mausoleums, was located next to the chapel with the office building across the road. Unfortunately, the greenhouse and office building no longer exist. When the original entrance was blocked, a new entrance and office building were established off Comstock Avenue.
As with most cemeteries, Oakwood Cemetery has extensive and varied examples of family monuments. Many of these monuments are large and surrounded by the smaller gravestones of individual family members. The original landscape design serves to accent the monuments rather then be dominated by them. The mausoleums are representative of many design styles. Several have been designed by noted people such as Archimedes Russell. As previously stated, James S. Crouse erected the first monument — a 30-foot tall, elaborately designed spire. John Jacob Crouse’s grave is marked by a large boulder that was moved laboriously from a farm near Marcellus. The Longstreet (he was a major salt manufacturer) monument is modeled after the pyramids with statues and benches included inside. The tomb dedicated to John H. Ryder, who died at an early age, was handsomely laid out with all the accoutrements of a comfortable Victorian sitting room. His parents were known to have visited regularly — reading by lamplight as though they were in their own living room. Other monuments include the Benjamin Colvin’s family oak tree trunk signifying strength and devotion, a stone dog near one of the Colvin families’ grave, a lifesize sculpture of a lion, and Oliver Teall Burt’s daughter Rosa’s gravesite is represented by her statue. A Civil War army general spent $25,000 on his mausoleum in 1866, which cost more than the entire bill for Oakwood’s original landscaping. Finally, one of the more interesting gravestones is a replica of four-year old Lester Tuckers’ favorite chair topped by a tasseled cape and lone shoe. A majority of the monuments, however, are more traditional.
As with most organizations, Oakwood Cemetery has suffered through some difficult times but it continues to grow and serve any family that is in the need of its services.
Karen Y. Cooney is support services administrator at the Onondaga Historical Association (OHA) in Syracuse.

Community Foundation for South CNY awards $64K in grants
JOHNSON CITY — Thirteen area organizations received grants totaling $64,534 from the Community Foundation for South Central New York’s Women’s Fund and Special Funds, the foundation recently announced. The grants, which were awarded through a volunteer panel and board-review process, will be used for a variety of capital projects, operations, and programs at the organizations,
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
JOHNSON CITY — Thirteen area organizations received grants totaling $64,534 from the Community Foundation for South Central New York’s Women’s Fund and Special Funds, the foundation recently announced.
The grants, which were awarded through a volunteer panel and board-review process, will be used for a variety of capital projects, operations, and programs at the organizations, per a foundation news release.
The following organizations received grants:
• A.O. Fox Memorial Hospital Foundation — $5,000 for the food pharmacy program, providing fresh food to patients by prescription
• Broome County Council of Churches — $7,000 for the Chop and Chat program, helping senior women fight food insecurity and social isolation
• Catholic Charities of Broome County — $8,000 for emergency assistance for working women to help them maintain employment
• Catholic Charities of Broome County — $5,000 for the Mother Teresa’s Cupboard emergency food assistance program
• Crime Victims Assistance Program, Chenango Child Advocacy Center — $1,800 for the Safety Backpack program for children on court mandated visits with parents
• Family and Children’s Society — $2,250 for the Vocational Incentives program, supporting women with mental-health diagnoses, to achieve and maintain employment
• First Baptist Church of Owego — $2,500 for the KIND program, supplying diapers and wipes for families in need
• Girl Scouts of NYPENN Pathways — $8,000 for the construction of a STEM classroom at Camp Amahami in Deposit
• Roberson Museum and Science Center — $3,000 for a collaborative capacity building project with five other historic institutions
• Safe Streets — $8,000 for a program to build social capital and employment skills among women on the north side of Binghamton
• Tier Zoological Society — $8,000 for Project VOICE, an initiative to have female veterans plan and execute a mosaic at the zoo
• Whitney Point Friendship Tree — $5,000 for back-to-school supplies for Whitney Point students in need
• Valleyview Elementary School — $984 for a kindergarten alternative seating program, helping students with special needs maintain focus in the classroom
The Community Foundation for South Central New York was founded in 1997 and is headquartered in Johnson City. It manages 121 funds within the foundation’s endowment. The nonprofit organization serves donors and nonprofits in five New York counties: Broome, Chenango, Delaware, Otsego, and Tioga.

Construction work starts on O’Reilly Auto Parts store in Fulton
FULTON — Preliminary construction work has started at a site on the west side of the city of Fulton that will be the future home of a new O’Reilly Auto Parts store. O’Reilly Auto Parts Enterprises LLC purchased the property at 28 W. First St. in Fulton back on May 30, 2017 from Rome Gas
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
FULTON — Preliminary construction work has started at a site on the west side of the city of Fulton that will be the future home of a new O’Reilly Auto Parts store.
O’Reilly Auto Parts Enterprises LLC purchased the property at 28 W. First St. in Fulton back on May 30, 2017 from Rome Gas Inc. for $350,000, CNYBJ reported in its Aug. 7, 2017 issue. The site was formerly home to Fast Lane Car Wash.
As of Aug. 30 of this year, crews had so far leveled the car-wash structure, as evidenced by the piles of rubble at the construction site, visible in the adjacent photo. Capitol Construction Solutions, Inc., a general contractor firm headquartered near Indianapolis, is working on the project, according to signage at the construction site. Bohler Engineering — a New Jersey–based civil and consulting engineering firm with 26 offices in the U.S., including Rochester and Albany in upstate New York — is also involved in the project.
O’Reilly Automotive, Inc. (NASDAQ: ORLY) — headquartered in Springfield, Missouri — operates more than 5,200 auto-parts retail stores across the U.S. under the name O’Reilly Auto Parts.
The growing chain had no stores in Central New York two years ago when it bought the Fulton property. O’Reilly Auto Parts has since opened stores in Solvay and Oswego this summer.
The 28 W. First St. property, situated, on 0.61 acres, is assessed at $350,000 for 2019 and has a total market value of $360,825, according to Oswego County’s digital property records.

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Shatraw joins M&T Bank Directors Advisory Council for CNY
SYRACUSE — M&T Bank announced it has appointed Scott A. Shatraw to its Directors Advisory Council for the Central New York region. The 11-member council meets regularly throughout the year to provide M&T management with “valuable insight on a wide range of business, client and community matters,” the bank said in a news release. Shatraw
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — M&T Bank announced it has appointed Scott A. Shatraw to its Directors Advisory Council for the Central New York region.
The 11-member council meets regularly throughout the year to provide M&T management with “valuable insight on a wide range of business, client and community matters,” the bank said in a news release.
Shatraw is president and CEO of Utica First Insurance Company, a multi-state property and casualty insurance company founded by Utica–area business leaders in 1903. Shatraw has been with the company since 1990, holding roles in treasury, financial reporting, strategic planning, operations, and control.
“With his decades of experience in finance and insurance, Scott has a deep understanding of the issues facing local businesses. His expertise will be a tremendous asset to our council,” Allen Naples, M&T Bank regional president for Central New York, said in the release. “Additionally, his Central New York roots and his steadfast commitment to Utica and Oneida County will help us advance our work to strengthen the entire region.”
Shatraw, a certified public accountant and chartered property casualty underwriter, began his career at Price Waterhouse before the merger that created PricewaterhouseCoopers. He joined Utica First Insurance Company as controller/assistant treasurer in 1990. Shatraw then held roles at Utica First as assistant VP of systems and internal planning and VP of finance before moving into executive positions, including CFO. In January 2018, he became president and CEO of Utica First.
Shatraw earned a bachelor’s degree in accounting from Le Moyne College. He is a board member of Rescue Mission of Utica, the Central New York Health Home Network, and the American Property Casualty Insurance Association. Shatraw previously served as board president for the Stanley Theater in Utica.
He joins 10 members of M&T Bank’s Directors Advisory Council for the Central New York region. The other members are: Andy Breuer, Hueber-Breuer Construction Co.; Carl Byrne, Byrne Diary, Inc.; Mara Charlamb, United Radio; James A. Fox, O’Brien & Gere; Karyn Korteling, Pastabilities; Robert H. Linn, formerly with Ernst & Young; Robert (Luke) Lewis, Lewis Custom Homes, Inc.; Joseph Mancuso, Hancock & Estabrook, LLP; Meg Tidd, VIP Structures, and Melissa Zell, The Pioneer Companies.
In Central New York, M&T Bank operates 45 branches with more than 400 employees across eight counties: Cayuga, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, and Seneca.
Demographic Implications Affecting Nonprofits
“All of everybody never did anything.” — Wynton Marsalis I write this column from my annual sojourn to the Chautauqua Institution near Jamestown [in far southwestern New York]. Each year for close to 150 years, Chautauqua has presented a nine-week summer program with a different theme for each week. The week I recently completed was entitled:
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
“All of everybody never did anything.” — Wynton Marsalis
I write this column from my annual sojourn to the Chautauqua Institution near Jamestown [in far southwestern New York]. Each year for close to 150 years, Chautauqua has presented a nine-week summer program with a different theme for each week. The week I recently completed was entitled: “Exploring Race and Culture in America.” As described further below, the visit prompted my “theme” for this column: demographic implications affecting nonprofit organizations.
Chautauqua is a distinctly American institution, where some of the leading thinkers of our time come to share the concerns and issues of the real world. It’s a place where an abundance of music, dance, and the visual arts find their own forms of expression. Professional symphony, ballet, and opera companies, as well as a conservatory theater company, are in residence on the grounds every season. It is Chautauqua’s extraordinary mix that draws 142,000 people every summer.
Since the 1880s, the Chautauqua platform for its summer season was known as a national forum for the open discussion of the latest thinking in politics, economics, international relations, literature, science, and religion. It’s truly an eclectic and ecumenical experience. If you haven’t been there, please go and find out more at chq.org.
Having been to Chautauqua for most of the past 10 years for at least one week of its summer season, I have personally observed the impact of the changing demographics of its attendees. Much like fraternal organizations, churches, and the nation, Chautauqua is facing the challenges of an aging population demographic.
As I reflected on the visual imagery of a sea of gray hair, including my own, I thought of the following 10 topics as being important for nonprofit board and management team members. The topics below are also timely as many boards return from their annual summer hiatus and rapidly approach another calendar year-end. Think of the following as a checklist similar to all of the “Back to School To-Do Lists” that you recently completed. Just like Chautauqua’s stimulating and eclectic daily activities throughout its summer season, the following topics cover a wide range of areas that should be considered in your organization’s strategic-planning process.
1) New York’s aging demographic
In this decade, New York state has lost population in almost every county north of Westchester County. Population decline is projected to continue for the foreseeable future. The question to be answered is: What impact will this demographic trend have on your organization’s program services and charitable mission?
2) Medicaid eligibility
We now have about 7 million New York residents eligible for Medicaid, the program intended as a safety net for the poor and indigent among us. This means that about one of every three New Yorkers is close to or below the poverty thresholds established by the federal government. The question to be answered is: What are the strategic implications of increased poverty and the related demand for more services related to your nonprofit’s charitable mission?
3) Global Medicaid cap
Gov. Andrew Cuomo recently announced that New York’s $79 billion of Medicaid spending has exceeded budget projections. In his quarterly budget update, he warned that hospitals, nursing homes, and other health-service providers could be facing Medicaid cuts, since the program was 8 percent over budget for the past fiscal year ending March 31, 2019. His announcement stated that “options to reduce Medicaid spending include the execution of statutory powers granted to the Commissioner of Health to limit spending, which include across the board rate reductions to healthcare providers and plans.” The question to be answered is: What impact will future Medicaid cuts have on your 2019 and future-year programs and services?
4) Effect on fundraising
Less government funding, which is not limited to just Medicaid, will result in an increasing need for other sources of revenue to support your programs and services. The question to be answered is: What strategic options can be implemented to generate increasing revenue from fundraising, grants, and non-traditional business activities?
5) Year-end charitable giving / planned giving
The stock market, with recent volatility, has increased from its lows in the past 12 months by 26 percent. The increase in wealth exceeds $5 trillion. The question to be answered is: How can we maximize tax-deductible charitable contributions from the top 10 percent of our constituent supporters between now and year-end, including planned and deferred giving options?
6) Tax Cuts and Jobs Act of 2017
New York’s wealthy citizens have lost a significant amount of their itemized deductions as a result of the $10,000 deduction limitation on state and local taxes (SALT). The question to be answered is: How can we convince our constituents and new supporters that a tax-deductible charitable gift is far more valuable to New Yorkers in 2019 as a result of the SALT limitation?
7) Regional networks of providers
Collaboration with other organizations has always been a hallmark of the tax-exempt sector, which is starkly different from for-profit industries. The question to be answered is: How can we most effectively achieve our charitable mission through collaboration vs. competition with other providers?
8) Mergers, affiliations, and acquisitions
All of the foregoing results in virtually every tax-exempt organization needing to assess its future viability and sustainability as an autonomous organization. The question to be answered is: What strategies can be implemented through strategic affiliation with other providers that will result in the best strategic positioning for your nonprofit?
9) Technology sophistication
As the tax-exempt sector continues down the road to further provider consolidation, the cost of maintaining an appropriate level of technology sophistication must be considered. The question to be answered is: What is the cost of maintaining technology sophistication for our not-for-profit over the next five years, and does our financial condition support the technology expenditures required?
10) Strategic planning
The topics discussed in this column should lead you to the importance of a feasible and reasonable strategic plan for your nonprofit organization. The question to be answered is: What is our board policy regarding periodic review and status of our strategic-plan goals and objectives?
Concluding discussion of my Chautauqua visit, I must say that every year I go, I feel more educated and optimistic about meeting the challenges that face tax-exempt organizations each and every day.
Gerald J. Archibald, CPA, is a partner in charge of the management advisory services at The Bonadio Group. Contact him at (585) 381-1000, or via email at garchibald@bonadio.com
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.